Annotate Legal Virginia Abandoned Property Forms For Free

The Unclaimed Property Program returns money, stocks, bonds, dividends, utility deposits, insurance proceeds, tangible property and more to Virginia residents. Whether you've moved, lost a check, or forgotten about a bank account, finding money is easy and free.

Virginia law requires businesses turn over unclaimed property to the state, which is then managed by the Virginia Department of the Treasury Unclaimed Property Division. It holds on to the unclaimed property until the rightful owner or heir files a claim.

Disposal of property abandoned by tenants. If any items of personal property are left in the dwelling unit, the premises, or any storage area provided by the landlord after the rental agreement has terminated and delivery of possession has occurred, the landlord may consider such property to be abandoned.

Virginia Dormancy Periods Most property types in Virginia have a dormancy period of five years. Accounts are considered dormant if the owner of a property has not indicated any interest in the property or if no contact has been made for the allotted dormancy period for that property.

Virginia Unclaimed Property Reporting and Remittance Method Reports can be submitted on on the state portal. Funds can be transferred through Check, Wire or ACH. Securities can be transferred through DTC or DRS.

Holders of unclaimed property must perform due diligence to show that they attempted to find the rightful owner of unclaimed property. For any balance greater than $100, written notice must be sent to the owners last known address at least 60 days before the unclaimed property report is filed.